Workday, Inc. (NASDAQ:WDAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus recommendation of “Moderate Buy” from the thirty-five research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $185.0303.

Several equities analysts have weighed in on WDAY shares. Guggenheim decreased their target price on shares of Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Bank of America started coverage on shares of Workday in a report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 target price on the stock. William Blair upgraded shares of Workday to a “strong-buy” rating in a report on Friday, May 22nd. TD Cowen reiterated a “hold” rating on shares of Workday in a report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a report on Wednesday, May 27th.

Insiders Place Their Bets

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $128.52, for a total transaction of $13,815,900.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at $13,500,897.48. This trade represents a 50.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 667,314 shares of company stock worth $87,564,716. Insiders own 18.64% of the company’s stock.

Hedge Funds Weigh In On Workday

Several hedge funds have recently bought and sold shares of WDAY. Rakuten Securities Inc. acquired a new position in Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the 3rd quarter worth approximately $26,000. DT Investment Partners LLC purchased a new stake in Workday during the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Workday during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $113.04 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 1.25 and a beta of 1.09. The company’s 50-day moving average is $127.53 and its two-hundred day moving average is $155.46. Workday has a 1-year low of $110.36 and a 1-year high of $249.85.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 EPS. Analysts forecast that Workday will post 5.34 EPS for the current year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.